SAN DIMAS, Calif. — When new WesCorp Chief Financial Officer JimHayes was named Todd Lane's replacement after just five years ofheading the corporate's marketing and business developmentdepartment, those unfamiliar with Hayes and his background mighthave questioned the choice.

Turns out, Hayes already knew his way around WesCorp's financewing, putting in six years as the NCUA's examiner for the $30million corporate.

In 1998, Hayes even supervised the application process andrecommended the NCUA Board grant the corporate expanded authoritiesunder Regulation 704, which includes greater credit risk freedoms,the ability to engage in foreign currency transactions and the useof interest rate swaps.

“It was a big process, because in order to do my job as anexaminer and feel comfortable with the applications, I had to learneverything there was to know about WesCorp–all the risks, systems,and processes in place–to ensure the corporate was safe and sound,”he said.

That extensive knowledge of WesCorp's balance sheet will come inhandy now as he takes over finance and accounting, as well as humanresources and facilities.

The CFO said he's glad to be back in the land of balance sheets,though his years in marketing have made him a better accountant andfinancial administrator.

“My new role is primarily internally focused, looking inward atthe company and tackling internal projects, but WesCorp, as anentire organization, is member focused,” Hayes said.

“It's a rule of thumb around here, if we can't justify thatsomething will better serve the membership, then we don't do it.So, the fact that I spent five years externally focused, havingthat knowledge and working directly with members, will help.”

He also plans to infuse his inward-facing staff with the kind ofrah-rah enthusiasm for WesCorp's products and services that comesnaturally in marketing and sales departments but often fails toconnect with accounting and other support staff.

“I feel like I have a really good view of both sides of thehouse now, and I'll develop and train my staff to make them feelmore connected to their role, how what they're doing translatesinto serving our members,” he said.

He added that regardless of an employee's position on theorganizational chart, most people are motivated by seeing that whatthey do helps someone else and has a direct impact on the bottomline.

Having only been on the job a few weeks, Hayes hasn't yetdeveloped an extensive to-do list, but said his general directivefrom CEO Bob Siravo is to improve processes and gain efficiencies.He's planning to launch that effort with an efficiency audit of hisdivision, utilizing WesCorp's in-house organizational developmentstaff.

“I'm not a status quo person, I don't believe in doing thingsbecause they've always been done that way, so I think it's safe tosay we will do some things differently.”

Accountants aren't usually known for their public speakingabilities, but in his new position, Hayes will also leverage one ofhis lesser known talents: educator.

While at the NCUA, Hayes was tasked with teaching his fellowexaminers the ins and outs of derivatives. And, Hayes was chosen tolead WesCorp's marketing department because, in large part, Siravowanted a sales team with a better understanding of the technicalmerits of the corporate's products and services.

Now, Hayes will teach WesCorp members.

“It's likely we will unveil, sometime soon, a educationalWebcast series for members on balance sheet management,” Hayessaid.

The CFO heralded WesCorp's Webcasting efforts, sayingeducational Webcasts are the perfect example of how the corporatecan help members.

“They don't even have to leave their desks, and they get thesame level of education as if they had traveled all day,” he said,adding, “it's all about efficiencies.”

–[email protected]